Turnaround and Business Restructuring

Turnaround and Business Restructuring

When a company needs to improve its efficiency and profitability and it requires third party support, our restructuring team can help. Often we carry out an Independent Business Review which highlights the need for restructuring.

This involves the dismantling and rebuilding of areas within an organisation that need special attention from the management and CEO. The process of corporate restructuring frequently occurs after buy-outs, corporate acquisitions, takeovers or bankruptcy.

When restructuring a business it is advisable to also look at formal insolvency procedures and the Members Voluntary Liquidation procedure. Although these involve incurring the costs of an Insolvency Practitioner it may be that they allow for more profitable results in the period after restructuring, or open the door to potential tax savings.

If you delay in seeking advice when you suspect that your business is in trouble, you may find that it is too late to implement a turnaround plan and there are a limited number of options available to you.

Dains can help with:

Assessing the financial position of the company

Advising of the options available

Assisting with the procedure recommended.

In producing a plan for the future of the business, we will frequently work alongside a colleague in the tax and/or corporate finance departments to gain a truly comprehensive picture of how, together, we can boost your bottom line.

Martin FP Smith and Nicola J Meadows are licensed in the United Kingdom to act as Insolvency Practitioners by the Institute of Chartered Accountants in England and Wales. Furthermore, they are both bound by the Insolvency Code of Ethics when carrying out all professional work relating to an insolvency appointment. When acting as Receivers, Administrative Receivers or Administrators they act as agents only, without personal liability and when acting as Administrators, the affairs, business and property of the company are being managed by them.

Contact Us

Registered office: The registered office is St. Johns Court, Wiltell Road, Lichfield, Staffordshire, WS14 9DS. Dains is a trading name of Dains LLP.

Legal Information

Dains LLP is a limited liability partnership registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk for the UK and www.cro.ie/auditors for Ireland, under reference number C001528129 and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales, number OC331125.